In the United States, a boss fired 900 people in less than three minutes, without meeting them, simply by speaking to them through the Zoom videoconference system.

In exactly 2 minutes and 33 seconds, this boss fired 9% of its workforce, according to the American press. He even talks about 15%. So I’ll give you the name of the company right away. Her name is “Better” means “better”. Quite simply, we think we are dreaming.

You do not know this company, because it does not operate in Europe. She is American and her activity is to sell mortgage, home insurance too. With a promise: to do better than traditional players, faster, easier, and obviously everything online.

One of the employees who was invited to this Zoom meeting by Vishal Garg, it is the name of the CEO and founder, filmed on her laptop the screen of her computer. We hear him say: "oh no, it's not possible, not with everything we've done for the company". But for her as for the others, the ax falls. “If you have been invited to this call, said the boss, you are part of the unlucky group. Your contract ends immediately ”.

And this video went viral

And if you look at her, you'll immediately understand why: the boss is pale, a little uncomfortable, but not that much. He feels especially sorry for himself, explaining that this is the second time he's done this and that the first time, he cried.

He puts these brutal layoffs on the back of the market, which is no longer what it used to be. He also criticizes his employees for their productivity. He denigrated them in front of those who remain in the company. And this is not the first that he has done so.

It is unclear what is more shocking about this affair, the method, the timing, just before the holidays, or the fact that the boss raised $ 750 million in the financial markets a week earlier to finance her growth.

What can we learn from this?

Several. There is a lot of talk about "the great resignation" of American employees, who prefer to become self-employed or retire rather than return to business. It comes as no surprise when you hear that.

The second is the limits of this sector of fintech, companies that offer a banking service by selecting the best customers, by slashing prices. Their goal is to grow quickly and sell to the highest bidder as soon as they can, enriching their founders. In the meantime, they destroy a lot of jobs in traditional banks.

One can also wonder about the responsibility of the shareholders who bring them the money: the Japanese fund Softbank, the Goldman Sachs bank, American Express who should better choose the leaders.